FTSE100 falling fast!

sabretoothtigger

They reached their first ceiling today. No real hit, if they stay above 148 it should push on, I guess someone is buying




Actually I did spot a big reason for buying, a big broker backs them to 270p and says the valuation is from misunderstanding


on diesel production - http://zeenews.india.com/business/news/companies/essar-oil-commissions-unit-for-euro-v-grade-diesel_43780.html

broker note - http://www.ft.com/cms/s/0/0558b0ba-719c-11e1-8497-00144feab49a.html?ftcamp=published_links/rss/markets_equities/feed//product#axzz1pevRs9A0

ess0two

sabretoothtigger wrote: »

They reached their first ceiling today. No real hit, if they stay above 148 it should push on, I guess someone is buying




Actually I did spot a big reason for buying, a big broker backs them to 270p and says the valuation is from misunderstanding


on diesel production - http://zeenews.india.com/business/news/companies/essar-oil-commissions-unit-for-euro-v-grade-diesel_43780.html

broker note - http://www.ft.com/cms/s/0/0558b0ba-719c-11e1-8497-00144feab49a.html?ftcamp=published_links/rss/markets_equities/feed//product#axzz1pevRs9A0

The UK is short on Diesel production,that extra capacity at Vadinar will be arriving here shortly:D

sabretoothtigger

I guess Essar are 'helping' uk avoid a real shortfall (presumably they profit). I was told India imported oil not exported, funny stuff. I realise refinement vs raw crude makes it a different product


This is just a video round up of everything that happened to date that somehow explains 600 to 150p:

* Why are analysts keen on Essar? India is growing fast and needs energy to sustain that growth. Can Essar Energy provide it or will internal problems scupper its chances? Watch here...

http://www.iii.co.uk/tv/episode/essar-energy-essr-0


I figure 100 was the low now just because its a round number. If its anything like Barclays at 50p we shall visit it twice over months, that was very emotional based also


FTSE overall this month is pretty sideways. Various company pros and cons arent leading us up that much. Where as USA has APPLE our largest firms are challenged by higher costs without growth to match, not so exciting. BP VOD BLT HSBA RDSB

ESSR is strong in its recent rise. Downside target 120, 175 to beat, 250 target

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

81,540,660 shares (6.256%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Investment Partnership Group Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc.

:think:

sabretoothtigger

Essar retraced alot of its recovery gains . But its selling on less volume then what it rose, bullish disparity makes it a buy I think unless theres some reason to think otherwise

Market overall is pulling back but this stock is subject to different tides really


Bombay quote and news - http://www.google.co.uk/finance?q=BOM:500134

Global environment will affect all refiners says Essar official

The negative impact of the narrowing light heavy differential in crude oil on the full year refining margin of Reliance Industries (RIL) is expected to have a similar impact on its chief competitor Essar Oil, which recently upgraded its refining complexity to become India’s second most sophisticated refiner.

Analysts and market experts say that firms that listed refiners who have enjoyed the benefits of high complexity, would see profit margins fall in the quarter ending March 2012 and may see this impact continue in the coming two quarters.

http://www.mydigitalfc.com/companies/ril%E2%80%99s-narrow-refining-margin-likely-influence-essar-oil-105

sabretoothtigger

Essar did well today , up 18% Overall its been idling this year, they call this basing where all the doubts (and sellers) must be worn out before any pressure to rise occurs

This volume on this bit of good news was ok but not great, unless India brings a rise overnight I think it'll repeat itself again.

http://online.wsj.com/article/BT-CO-20120530-710814.html

I put an order to buy at 116, the top price today 154 is about the best till it really breaks out. I expect it'll take much more. Positive stock with bad history, the company itself is doing ok it seems?


The FTSE is outperforming the Euro which is falling faster. We should be going sideways till Greece elections though a recent Greek poll was more optimistic. I dont think we go straight down till theres a trigger, back and forth

http://www.business-standard.com/india/news/rupee-sensitive-stocks-risky-for-new-investors/475844/
Rupee causes concern, Essar oil owned 76% by foreigners ( I thought that was banned)

sabretoothtigger

Essar rose 34% recently. Indian gov raises price controls on diesel by 12% or so which hopefully means they arent forcing their oil companies to sell fuel at a loss, which is nice of them

Same as above I think, its risen on not enough volume. Time to be sceptical again unless they are doing especially well for some reason. Rupee needs to rise vs dollar I think

FTSE I think is at a relative top again, similar to previous. It can push past but I think we go sideways at best, depends how influential that QE was I guess

ess0two wrote: »

The UK is short on Diesel production,that extra capacity at Vadinar will be arriving here shortly:D

So no matter what this company can avoid their own countrys price controls by selling abroad, surely they dont like that as India is a net importer

sabretoothtigger

^^ The Ftse did top in Sept after all

A fire at Stanlow but also profits which is very good to hear

A fire broke out in a furnace of Essar Energy PLC's (ERERY) Stanlow refinery in the U.K. Saturday, but it has since been extinguished and isn't affecting deliveries to customers, Andrew Turpin, a company spokesman, said Monday.

"Supplies to customers are being largely maintained to schedule, and we have plans in place to ensure this remains the case while repairs are made to the unit," Mr. Turpin said.

The fire didn't impact the two main crude distillation units or the residue catalytic cracking unit, the company said.

No one was injured.

[URL="http://tools.morningstar.co.uk/t92wz0sj7c/stockreport/default.aspx?tab=3&vw=story&SecurityToken=0P0000O8OK]3]0]E0WWE$$ALL&Id=0P0000O8OK&ClientFund=0&CurrencyId=GBP&story=248841815621616"][/url]

Gross refining margin rose to $9.75 per barrel of crude from $2.82

ess0two

sabretoothtigger wrote: »

^^ The Ftse did top in Sept after all

A fire at Stanlow but also profits which is very good to hear

Turned in some decent profit for previous 6 months.

Fire not good,but damage not as bad as first thought.

sabretoothtigger

Doubled their margins I saw. Decent results, they are spending 400m on debt costs though.
They have still failed to do what I hoped which is provide cheap energy to India, they are being obstructed from cheap coal mining still unfortunately or I think they'd manage it.

Questor says its too risky, bit late to say now they went from 600 to 100. 40% rise sounds good but as one of Indias largest refiners they should be in the FTSE easily, not sure that is likely. I sold a bit
http://www.telegraph.co.uk/finance/markets/questor/9863720/Questor-share-tip-Risks-are-not-yet-over-for-Essar-Energy.html

FTSE doing well especially banks more optimistic then ever

ess0two

I've just bought into this yrs SAYE @ 120p,heres hoping they keep moving upwards.